Bitcoin Might Be Going Somewhere!

Bitcoin, the poster child of cryptocurrencies, has been on a seemingly unstoppable upward trajectory over the past few years. Especially in the last few days it’s shown some life!

While its price has experienced periods of volatility, the overall trend has been remarkably bullish. This surge has left investors, financial analysts, and the general public intrigued, as they seek to understand the underlying factors fueling its ascent. In this extensive blog post, we’ll delve into the reasons behind Bitcoin’s remarkable rise, explore the various dynamics at play, and address some of the potential drawbacks associated with it.

The Positives:

Scarcity and Halving Events:

• One of the fundamental reasons behind Bitcoin’s surge is its scarcity. Bitcoin is designed to have a limited supply of 21 million coins, a feature that distinguishes it from traditional fiat currencies. This scarcity is further reinforced by the halving events that occur approximately every four years. During a halving, the number of new Bitcoins created as mining rewards is reduced by 50%, making it more difficult to obtain new coins. This reduced supply, coupled with increasing demand, drives up the price of Bitcoin.